NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--Kimco Realty Corp. (NYSE:KIM) today reported its transaction activity
for the third quarter of 2014. The company acquired a 10-property
shopping center portfolio valued at $275.8 million while disposing of 27
properties for a gross sales price of approximately $376.4 million.
These transactions are summarized below.

ACQUISITIONS

As previously announced, the company acquired a portfolio of 10 shopping
centers totaling 1.4 million square feet from its joint venture with SEB
Asset Management for a gross price of $275.8 million, including the
assumption of $193.6 million of mortgage debt. Kimco, which previously
held a 15% ownership interest in these properties, paid approximately
$69.8 million for the remaining 85% equity interest held by SEB Asset
Management. The predominately grocery-anchored portfolio, located in
mature markets in the Mid-Atlantic region, is 95.4% occupied. The
portfolio features a diverse mix of tenants that include market-leading
grocers such as Giant Food, Harris Teeter, Weis Markets, Safeway and
Food Lion, along with a lineup of well-known national retailers
including Ross Stores, Bed Bath & Beyond, Marshalls, Kohl’s, PetSmart,
and Michaels. This transaction represents the third joint venture
portfolio acquisition by Kimco in 2014, highlighting the company’s
continuous emphasis on reducing the number of properties in joint
venture arrangements.

Since the beginning of 2014, Kimco has acquired a total of 51 U.S.
retail properties, comprising 5.3 million square feet, for a gross
purchase price of $1.2 billion, including $465.3 million of mortgage
debt. These properties have, on a pro-rata basis, an average occupancy
of 96.0 percent and are supported by excellent demographics, including
an average household income of $92,000 within a three-mile radius.

DISPOSITIONS

United States

During the quarter, Kimco sold ownership interests in 24 U.S. properties
(17 wholly owned and seven unconsolidated properties held in joint
ventures) totaling 2.4 million square feet, for a gross sales price of
$263.6 million, including $35.2 million of mortgage debt. The company’s
pro-rata share from these sales was $205.4 million.

Since the beginning of 2014, Kimco has sold 50 retail properties,
comprising 5.1 million square feet, for a gross sales price of $512.9
million, including $72.4 million of mortgage debt. The company’s
pro-rata share from these sales was approximately $384.9 million. The
properties that were sold had demographics below Kimco’s portfolio
averages, including an average population level of 85,000 and a median
household income level of $57,000 within a three-mile radius.

Latin America

During the quarter, the company sold three unencumbered retail
properties in Mexico to FibraShop (BMV: FSHOP13), a Mexican real estate
investment trust (REIT), for a gross sales price of 1.5 billion Mexican
pesos (US $112.8 million). The company’s pro-rata share from these sales
was approximately 1.3 billion pesos (US $101.3 million).

Since the beginning of 2014, Kimco has sold 16 retail properties in
Mexico, comprising 4.5 million square feet, for a gross sales price of
$416.9 million. The company’s pro-rata share from these sales was $305.5
million.

About Kimco

Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT)
headquartered in New Hyde Park, New York, that owns and operates North
America’s largest publicly traded portfolio of neighborhood and
community shopping centers. As of June 30, 2014, the company owned
interests in 840 shopping centers comprising 121 million square feet of
leasable space across 41 states, Puerto Rico, Canada, Mexico and South
America. Publicly traded on the NYSE since 1991, and included in the S&P
500 Index, the company has specialized in shopping center acquisitions,
development and management for more than 50 years. For further
information, please visit www.kimcorealty.com,
the company’s blog at blog.kimcorealty.com,
or follow Kimco on Twitter at www.twitter.com/kimcorealty.

Safe Harbor Statement

The statements in this news release state the company's and management's
intentions, beliefs, expectations or projections of the future and are
forward-looking statements. It is important to note that the company's
actual results could differ materially from those projected in such
forward-looking statements. Factors which may cause actual results to
differ materially from current expectations include, but are not limited
to (i) general adverse economic and local real estate conditions, (ii)
the inability of major tenants to continue paying their rent obligations
due to bankruptcy, insolvency or a general downturn in their business,
(iii) financing risks, such as the inability to obtain equity, debt or
other sources of financing or refinancing on favorable terms to the
company, (iv) the company’s ability to raise capital by selling its
assets, (v) changes in governmental laws and regulations, (vi) the level
and volatility of interest rates and foreign currency exchange rates,
(vii) risks related to our international operations, (viii) the
availability of suitable acquisition and disposition opportunities, and
risks related to acquisitions not performing in accordance with our
expectations, (ix) valuation and risks related to our joint venture and
preferred equity investments, (x) valuation of marketable securities and
other investments, (xi) increases in operating costs, (xii) changes in
the dividend policy for the company’s common stock, (xiii) the reduction
in the company’s income in the event of multiple lease terminations by
tenants or a failure by multiple tenants to occupy their premises in a
shopping center, (xiv) impairment charges and (xv) unanticipated changes
in the company’s intention or ability to prepay certain debt prior to
maturity and/or hold certain securities until maturity. Additional
information concerning factors that could cause actual results to differ
materially from those forward-looking statements is contained from time
to time in the company's Securities and Exchange Commission (SEC)
filings. Copies of each filing may be obtained from the company or the
SEC.

The company refers you to the documents filed by the company from time
to time with the SEC, specifically the section titled "Risk Factors" in
the company's Annual Report on Form 10-K for the year ended December 31,
2013, as may be updated or supplemented in the company’s Quarterly
Reports on Form 10-Q and the company’s other filings with the SEC, which
discuss these and other factors that could adversely affect the
company's results.